Today is May 16, 2024
Yesterday’s US CPI data was relatively neutral, and Bitcoin really soared.
Last week I kept telling everyone that those who were short on stocks should buy at the bottom. Last night, the U.S. stock market hit a new high. After this wave of rise, will Bitcoin continue to go up, or will it reach 67,000 and then continue to pull back and consolidate?
Let us use the data of Bitcoin OBTI’s one-hour liquidation chart to analyze it.
As you can see, there are more people who opened long positions than those who opened short positions. As long as the price drops back to 63,500, all the large long positions will be reported. The maximum long position volume is 3.6M, and the short position volume can be ignored, almost non-existent.
Therefore, the dog dealer may continue to narrate. As long as it can maintain at 66,000, more people will open long positions. Of course, if Bitcoin maintains above 66,000, many Altcoin will rise. Everyone should pay attention to these Altcoin. You can refer to AI-related tokens.
Because Nvidia’s earnings report is on May 22, there are still 6 days left.
Let’s take a look at the explosion chart of Ethereum OPTI
It is the same as BTC . The liquidation level of long positions is 2,925. The volume is 2.7. Yesterday's rise has liquidated a large number of short positions. We saw that they were all shorting in the past few days. They had been holding for almost a week, and they were wiped out in one wave. Now, no matter whether it is Bitcoin or Ethereum, there are not many people opening orders near the current price. #BTC trend analysis #ETH trend analysis #contract liquidation #market trend
